Europe traders, distributors positive on future profits but not much else – CMCI
Graeme Paterson
28-Oct-2016
LONDON (ICIS)–Future profitability expectations among European chemical traders and distributors rose sharply in October while sentiment in other areas was mostly down from the previous month, according to analysis of the ICIS Chemical Markets Confidence Index (CMCI) on Friday.
Despite the confidence rise in future profitability from September, current profitability was down sharply with the index firmly in the negative at minus 35.3.
Current business conditions rose very slightly while sentiment over future business fell significantly to take the index down to minus 18.8
Future and current order book volumes also fell from the previous month, with the former at zero in the index and the latter at minus 17.6.
The overall October CMCI fell into negative territory with confidence trending lower in all indicators as worrying global trends offset fairly positive data in Europe.
The newly established ICIS Europe CMCI aggregates sentiment from hundreds of petrochemical market players actively involved in price negotiations across more than 60 different markets.
The Europe CMCI runs from +100, to -100, with zero on each index representing neutral, or uncertain conditions, a negative score indicating bearish expectations and a positive score representing bullish expectations. The indices also gather sentiment on the comparison between the current situation and the situation across the past 12 months to give a complete picture of current market conditions and confidence. The information is gathered in the third week of each month. A full methodology is available on request.
For more details on the overall Europe CMCI data, click here
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